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  1. Hi, My ex hubby has just asked to cash in a pension with Prudential and its value is £25,000. He has just had a terrible thought and now is panicking. He works full time with a wage of £25,000 a year and he has an AOE that goes out his wages every week for Bradfoed and Bingley. Will this pension money affect his AOE ( will he have to pay more) Will the cheque come with the Tax already taken off it or does he have to contact HMRC and pay them direct? Thanks in advance.
  2. Armed forces pensions on divorce and dissolution of civil partnerships READ MORE HERE: https://www.gov.uk/government/publications/armed-forces-pensions-on-divorce-and-dissolution-of-civil-partnerships
  3. Apologies if this is in the wrong section but it was the only one close to the problem I have. My 94 year old Mother in Law is going in to a care home this week, she suffers badly with Dementia. As well as taking all her pension, I have been told by Social Services that I need to make "Top Up" payment of anywhere between £30 and £70 a week. We haven't asked for any upgrade to Mum's accommodation, she will have one of the basic bedrooms within the care home. Can anyone offer any advice or help please?
  4. CAB/Citizens Advice DWP - For State pension information. https://www.gov.uk/browse/working/state-pension MAS - the money advice service https://www.moneyadviceservice.org.uk/en/categories/work-pensions-and-retirement Pensions regulator http://www.thepensionsregulator.gov.uk/individuals.aspx Pension Wise https://www.pensionwise.gov.uk/ TPAS - The pensions advisory service http://www.pensionsadvisoryservice.org.uk/ unbiased.co.uk - to find an independent financial adviser [iFA] https://www.unbiased.co.uk/
  5. A new financial guidance service to provide advice on pensions, managing debts and other money issues is to be created by the government. It will replace the heavily criticised Money Advice Service (MAS) as well as two pension advice services. The government thinks a single advisory body will be more efficient but has yet to decide how the new service will actually work. The abolition of the MAS was announced in the Budget in March. It was criticised for failing to help those who needed it most and paying its staff too much. No timetable Like the MAS, the new organisation will be paid for by a levy on financial services companies. The new body will also take on the roles of the Pensions Advisory Service, and Pension Wise - an organisation set up in response to pension reforms introduced in 2015. The government looked at setting up two bodies to replace the MAS and pensions services. But industry and consumer finance groups raised concerns over how they would work together effectively. The new body as yet has no name and there is no timetable for its creation. http://www.bbc.co.uk/news/business-37597567
  6. Hi Guys, Please help I am so stressed and anxious and making myself sick. I have been on Incapacity Benefit since 1997, i was medically retired from the NHS. I cant remember exactly when i converted to ESA but was placed in ESA support group then when the 365 days were up (maybe a couple of years ago) they re assessed me to see if i was legible to continue, the outcome i believe was as i was in support group i would continue getting CR ESA. that carried on then in march i recieved a letter stating as i get £74.36 a week occupational pension x 2 I have one for £13.23 and one for £61.11 and that was to come out of my ESA. And that I may have been overpayed ESA. I looked up online about CR ESA and pension and it says that if you have extra money over £85 they would take 50% over the £85 as i get under that i assumed i was ok. I phoned in DWP in march and I asked them about this they then said I was on Both IR ESA and CR ESA so that rule doesnt apply to me. Then Today I have been sent a letter from DWP inviting me to an Interview under Caution about my ESA and my pension. can anyone advise me i am so nervous as far as i'm aware they new of my pensions as i sent them P60 in the past. please help. Regards
  7. A new DWP website has been launched by the Pension Tracing Service to help people more easily and quickly locate their lost pension savings. There is currently an estimated £400 million in unclaimed pension savings. This is money people have previously saved for their retirement, and the new website will better help people to locate their hard-earned savings. The new DWP online Pension Tracing Service helps reunite people with their lost pensions, giving details of providers to help people track them down. Anyone who thinks they may be missing out on any savings can use the free online service at www.gov.uk/find-pension-contact-details. You can search for a workplace pension (a pension an employer has set up for you), a personal pension (a pension you have set up yourself), or a civil service, NHS, teacher or armed forces pension. If you're looking for a workplace pension, you'll be asked for your employer's name. If it's a personal pension, you'll need to enter the name of your pension provider. If it was an NHS, civil service, teaching or armed forces pension, you'll be given a link to contact the specific pension enquiry service directly. Once you've clicked on the relevant company or pension, you'll be provided with a name, address and possibly email or phone number for the administrator of the pension scheme you may have paid in to. You now need to write to or call the administrator to see if they can find your pension, and if so, how much it's worth. If you're writing, include as much useful information as you can – in particular your name, date of birth, the rough dates you believe you had the pension and your national insurance number.
  8. Hello if someone is in receipt of private pension and went on JSA would they receive the full weekly amount or would they reduce the amount due to the pension. Regards
  9. On LBC at 9pm tonight they will be discussing the changes to pensions. Might be worth a listen.
  10. READ MORE HERE: https://www.gov.uk/government/news/2016-war-pensions-and-allowance-rates
  11. Hello… I wonder if there is anyone who can help with this, please? Years ago my husband who is financially naive, (to say the very least), was sold several pensions, life insurances, annuities, etc., by an IFA. Amongst other things there were two pensions with Sun Life, (why he was sold two policies with the same pension provider is a mystery, but the IFA probably got paid commission for both of them). For several years they were paid in by direct debit under the two different policy numbers, then, when my husband was made redundant and stopped paying in, it would appear that at some point both pensions merged into just one policy. He was not informed of this, or if he was, they may have written to the wrong address as we moved a few times. Both pensions were quite small and under the rule of triviality, he would probably have been able to take the money from each without having to buy an annuity, but by merging the two, it increased the amount of the pension pot to more than £30k. The pension pays about £130 per month. he could really benefit from having the cash as there are no savings and he could pay down the mortgage as it won't be paid off when it ends soon. The IFA is still in business and I tried to contact him to ask about the portfolio he set up, as there may be an endowment which could help as well, but he won't answer my emails… Should my husband contact Sun Life and ask why the pensions were merged and if there is no good reason, would he be entitled to claim what's left in the pot, even though he purchased an annuity? Or will the new pension rules allow him to do that anyway? There was talk last year that people who had bought annuities would be entitled to their money but would have to wait an extra year for it… I've not heard anything since...
  12. Hi As I am about to claim my UK government pension I have calculated that I will be well over the UK Tax Allowances for the next year. As I will not be entering the UK at any time in the future with the exception of a short holiday I would like to be taxed in the country of residence, that being the Philippines I have visited the HMRC / Gov web sites but it seems to be deliberately garbled to bamboozle people. Am I correct that in assuming I am required to submit the "Residence, Remittance Basis" form. No point in submitting the R85 form as the banks here would not know what it is As for the current tax year I would have overpaid by quite a sum due to PPI claims interest being withheld. What is the form for reclaiming this issue please. I understand that the refund is not made until around May / June next year but trying to get5 things sorted before it happens Thanks in advance for any help provided
  13. can anybody advise me as I seem to have got a lot of contradictory info here. I would like to know if the contribution an employee pays out of his/her wages/salary towards their workplace pension is in fact taxable through the normal p.a.y.e. system. Any help would be appreciated.
  14. Really just checking I've read the guidance right and not missed anything. I received ESA contribution based, support group and DLA high care low mobility. I've just started being paid a pension on ill health grounds of just under £55 per week. I think I need to tell DWP but it won't affect my benefits, am I right?
  15. has anyone had any dealings with this company of late, looking for some advice if anyone can help, have a small pension with them, that i started the process of cashing it in, money was meant to have being paid out 3 weeks ago, they have come back to us saying they can't pay out as irregalalities with their accounts with Barclays, leaving them unable to use their accounts, am a bit worried that its now 3 weeks, and still the same situation, leaving me worried that the funds are not there, anyone with some advice what if anything can be done, or just have to sit it out and wait and see what happens
  16. Does the UK government have a reserve to meet some of its state benefit liabilities ? I cannot see any mention online and it raised the question as to whether government only meets pension liabilities out of current revenues. UK regulators do no allow pension companies to operate in this way and I would question why government does not appear to put money away, other than a general reserve which is quite small. Of course government can raise taxes and cut spending, but in the years ahead we will have a growing number of people of retirement age and working people increasingly facing reduced real term incomes, because of population growth, increased competition from abroad and technology replacing the need to employ the same number of people. If government struggles to gain the revenues, faces increasing cost of healthcare, education, defence etc and meet with election barriers preventing them from increasing tax rates/scope, then they will get themselves into a hole if another crash hit like in 2007/08.
  17. I've recently separated from my husband. He's been advised that I can claim 50% of his pension accrued since the day we married and vice versa. We had 2 children before we married and were living together for 10 years before we actually got round to tying the knot. When the kids were young I worked on and off and mainly part time so didn't actually start a pension until 9 years ago so its pretty worthless just now. Should the 10 years prior to marriage be included in calculations when deciding what I should receive? He walked out and is refusing to contribute any further to any household bills, we rent a house so no mortgage to worry about and kids are all grown up. I wasn't planning on asking for a share of his pension but he's left me struggling to meet ends meet every month. He always earned about £600 a month more than I did and we shared all bills. I have HP on a car that I need for work but this was taken out when we needed a second family car. I was the one who took the finance while he kept the fully paid family car. Could this be counted as a debt that he should be contributing to?
  18. Been doing some research under Freedom Of Information into how much of our Council Tax is TAKEN to pay Public Service Pensions within the County,they can give an overall figure of the amount required to pay the Pensions which excludes Teachers,but they are unable to tell me how much of this is actually taken from Council Tax as in their words it is to complicated. This is really worrying because County Councils may well in the near future be responsible for their NHS budgets in the County as well,and if they have no idea how much they take from Council Tax to pay Public Service Pensions, not much hope they are going to be able to manage many more billions of Pounds of NHS money FS
  19. Has anyone read this yet? https://www.gov.uk/government/publications/draft-legislation-the-taxation-of-pensions-bill
  20. Guest


    I have two small pensions that I get a monthly income from. When the new government legislation starts from April will I be able to withdraw the whole amount from the pension pots. Thanks for reading x
  21. Can someone please help me? This morning my employer received a letter from Department of Work and Pensions stating they are seeking recovery of monies for me. They had a very old address I hadn't lived at in 4 years. So I call them and give them my reference, the lady at the end of the line, who is clearly miserable and hates her job tells me I owe 93.70 from Job seekers allowance. I have not claimed JSA since 2005 when I claimed for 2-3 months. (9 years ago!) But I know what this is about as soon as she says this. One day in 2005 when I went to sign on I was told the next sign on sate was a bank holiday, so I'd sign twice on that day and wouldn't go in during the bank holiday. Thinking nothing of it 2 YEARS later when I'm in employment in 2007 I receive a letter saying I owe £93.70. I speak to a range of different people and they tell me as I didn't actually sign on a date I should have (as it was a bank holiday) I had technically been overpaid and owe them. I refuse to pay on the grounds of I was just doing exactly what I was told to do, I was not paid any additional amount to what I usually pay. So I appeal. I don't hear anything more from it, until this letter today. Then I speak to this lady and she says I have no option to appeal despite it being 7 YEARS since I did and I've heard nothing from them until today. She said I have to pay the money within 10 days. What do I do? I really don't want to pay money I do not owe. I feel shocked that despite only signing on for a couple of months in my life and being a tax payer for the past 9 years I am having to deal with this! Many thanks
  22. http://metro.co.uk/2014/10/15/tory-work-and-pensions-minister-disabled-people-not-worth-minimum-wage-4906892/?ito=v-a I think even his own party should be calling for his resignation. I would say that 90% of parliament are not worth what the tax payer is shelling out for them.. especially when they make crass statements such as this ??
  23. http://www.publications.parliament.uk/pa/cm201415/cmselect/cmworpen/302/302.pdf In summary:- 'The flaws in the existing ESA system are so grave that simply “rebranding” the WCA by taking on a new provider will not solve the problems: a fundamental redesign of the ESA end-to-end process is required, including its outcomes, and the descriptors used in the WCA. This will be time-consuming and complex but the redesigned ESA assessment process needs to be in place by the time a completely new contract, involving multiple providers, is tendered in 2018.'
  24. Up to two weeks ago we used to receive one lump sum Pension credit for both us on a Wednesday. As we wife now receives State pension, I get PC on the Wednesday and she gets her State Pension on the Friday. In three months time, I go onto state pension and we will still have two payments per week which seems daft. I thought IDS was out to streamline the process and not burden it down with extra work. Not sure why we cannot get one lump sum State pension payment per week instead of two?
  25. My mother has had to go into a council care home and she has sadly run up large debts (she suffers from Dementia so forgot to pay the bills) Council want to take her small pension from here but I am left to deal with the debt agencies. Is there a way to secure her pension in order to discharge the debts that has been run up. Council have said if they don't receive the financial report they will charge her full price but how can they collect the full price if she doesnt have any money after the debts are paid from her home (which was rented)
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